Global commodities trader Trafigura says it has become a major investor in green hydrogen through a partnership with Zurich-based hydrogen solutions provider H2 Energy.

Investments start at $62 million, Trafigura says, noting that $20m will be injected into H2 Energy Holding. The remaining funds will be used to create a 50-50 joint venture based in Zurich to roll out green hydrogen-based ecosystems.

The partnership will invest in hydrogen infrastructure and applications-related projects in Europe, excluding Switzerland. Areas of development include production, storage and distribution of green hydrogen for refuelling stations and industrial customers, Kallanish learns.

Trafigura’s ceo Jeremy Weir says “the investment has enormous potential at a time when the economics for green hydrogen use by heavy-duty transport is becoming competitive with traditional fuels.”

“We consider hydrogen and fuel cell technology as an enabler of the energy transition,” says H2 Energy’s chairman Rolf Huber, noting the JV “will allow us to further develop fuel cell applications for the transport sector on land and water, but also for stationary applications.”

H2 Energy claims to be the first in the world to deliver fuel cell trucks to commercial users through partnerships with Hyundai, Alpiq and Linde.